-- Electric motor generates 201bhp (150kW) and
166lb/ft of torque

-- Range from a single charge will exceed 180
miles

-- First pure electric sports car to be built in the
Motor City

-- Production to start in August 2013

DETROIT--April
3, 2013: Emissions-free motoring has a new high-performance
champion following the unveiling today of Detroit Electric's SP:01, a
limited-edition, two-seat pure-electric sports car that sets new standards
for performance and handling in the electric vehicle (EV) segment.
Boasting an impressive 155mph (249km/h) top speed and covering the 0-62mph
(0-100km/h) sprint in a blistering 3.7 seconds, the SP:01 is the world's
fastest pure-electric production car.

The new SP:01 was launched under the brand's mantra of 'Pure Electric
Excitement' at Detroit Electric's new headquarters in the Fisher
Building in downtown Detroit. Just 999
examples will be built at the company's new production facility in Wayne County, Michigan.

The SP:01's innovative powertrain delivers instantaneous torque through
a four-speed manual gearbox for optimal acceleration. An automatic
transmission is available as an option.

The 37kWh battery gives the SP:01 an impressive range of almost 190
miles, when tested to the New European Driving Cycle (NEDC) standard.
Detroit Electric's home charging unit will enable drivers to fully
recharge their SP:01 in 4.3 hours.

"The SP:01 will be exclusive, luxurious and technologically advanced,"
said Albert Lam, Detroit Electric's Chairman
and Group CEO. "The car will be an exciting and innovative product,
displaying outstanding performance coupled with strong green credentials,
and delivering an exhilarating driving experience."

The bespoke bodywork is constructed of carbon fibre. Styled by Detroit
Electric's Head of Design, Jerry Chung, the
SP:01's angular lines give the car a bold, imposing design while optimising
aerodynamic efficiency.

SP:01 is the first car to use innovative smartphone applications to
manage the in-car infotainment system. The Smartphone Application Managed
Infotainment system ('SAMI') provides access to a wide range of functions
and vehicle systems information.

The SP:01 is equipped with bi-directional charge and discharge
capability, made possible through Detroit Electric's patented home charging
and power back-up unit, named '360 Powerback'. As well as charging the
battery the unit can also detect power failures in the grid and restore
power to the home via SAMI.

An all-disc braking system, anti-lock braking and Electronic Stability
Control are fitted as standard, but it is the SP:01's Regenerative Braking
technology that sets the car apart, delivering superb stopping performance
while ensuring greater energy efficiency. The car's energy recovery
mechanism uses the motor as a generator, recovering kinetic energy and
using it to recharge the batteries.

On sale by end of August, the SP:01 will herald a new family of
all-electric production cars from Detroit Electric, including two
high-performance models that will be in production by the end of 2014.

The price of SP:01 starts at $135,000 USD,
and will vary according to specification and local taxes. Each SP:01 will
come with a three-year, 30,000-mile warranty with an optional extension for
the battery to five years and 50,000 miles.

The original electric car innovators, Detroit Electric began life in
1906 and went on to make some 13,000 vehicles by 1939, setting the EV
production world record for the twentieth century.